Real Estate Math
A Minnesota buyer purchases a property for $245,000 with 5% down. What is the loan-to-value (LTV) ratio?
A5%
B90%
C95%✓ Correct
D80%
Explanation
Down payment = $245,000 x 5% = $12,250. Loan amount = $245,000 - $12,250 = $232,750.
Related Minnesota Real Estate Math Questions
- A Minnesota apartment building has 12 units renting for an average of $950/month. The vacancy rate is 8.3% (1 unit vacant). Operating expenses are $38,000 annually. What is the NOI?
- The NW 1/4 of the NE 1/4 of a section in Minnesota contains how many acres?
- A Minnesota property sells for $350,000. The deed tax is $1.65 per $500 of net consideration. What is the deed tax owed?
- A buyer obtains a 30-year, $200,000 mortgage at 7% annual interest. Using the factor of $6.65 per $1,000 borrowed, what is the monthly principal and interest payment?
- A section of land in Minnesota contains how many acres?
- A seller lists their home for $299,000 and accepts an offer for 97% of list price. What is the sale price?
- A listing agent earns 60% of a 6% commission on a $310,000 sale. What does the listing agent earn?
- A Minnesota broker retains 30% of the total commission and pays the listing and selling agents each 35%. On a $450,000 sale at 6%, how much does the broker retain?
Practice More Minnesota Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Minnesota Quiz →